Market Size of North America Insulin Syringe Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 255.03 Million |
| Market Size (2029) | USD 277.47 Million |
| CAGR (2024 - 2029) | 1.70 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America Insulin Syringe Market Analysis
The North America Insulin Syringe Market size is estimated at USD 255.03 million in 2024, and is expected to reach USD 277.47 million by 2029, growing at a CAGR of 1.7% during the forecast period (2024-2029).
The COVID-19 pandemic has substantially impacted the North America Insulin Syringe Market. People with diabetes have a weak immune system so, with COVID-19, the immune system gets weaker very fast. People with diabetes will have more chances to get into serious complications rather than normal people. The manufacturers of diabetes care devices have taken care during COVID-19 to deliver the diabetes care devices to diabetes patients with the help of local governments. Doctors around the world suggested diabetes patients should monitor and manage their blood glucose levels more often which leads to an increase in the usage of insulin syringes.
Diabetes is associated with many health complications. Comparing the population with and without diabetes, those with diabetes have a 300% increased risk of being hospitalized and thus incur more healthcare expenses compared to non-diabetic people. Patients with Type 2 diabetes require many corrections throughout the day for maintaining nominal blood glucose levels, such as the administration of additional insulin or ingestion of additional carbohydrates.
Furthermore, patients attempting to control their blood glucose levels tightly to prevent the long-term complications associated with fluctuations in blood glucose levels are at greater risk for overcorrection and the resultant hypoglycemia. Achieving nominal results can be very difficult without multiple daily injections of insulin or insulin pump therapy.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
North America Insulin Syringe Industry Segmentation
Insulin syringes are used for self-injection and are available in multiple sizes to help deliver different insulin doses. The North America Insulin Syringe Market is segmented into Geography. The North America Insulin Syringe Market is segmented into geography. The report offers the value (in USD) and volume (in units) for the above segments.
| Geography | |
| United States | |
| Canada | |
| Rest of North America |
North America Insulin Syringe Market Size Summary
The North America Insulin Syringe Market is poised for growth, driven by the increasing prevalence of diabetes and the need for effective blood glucose management. The market is influenced by the rising number of diabetes cases in the region, with significant populations in the United States and Canada. The COVID-19 pandemic has further underscored the importance of diabetes care, as individuals with diabetes are at a higher risk of complications. This has led to a heightened demand for insulin syringes, as patients are encouraged to monitor and manage their blood glucose levels more frequently. The market is characterized by a fragmented landscape, with key players like Becton Dickinson, Cardinal Health, and Ultimed Inc. engaging in both organic and inorganic growth strategies to maintain their market positions.
The market's expansion is supported by various factors, including the integration of diabetes prevention and treatment into primary health services and the promotion of regulatory harmonization for diabetes medicines and technologies. The United States holds a significant share of the market, bolstered by Medicare's coverage of insulin and related supplies. Additionally, international collaborations and technological advancements present opportunities for market players. The ongoing innovation in product offerings and the focus on minimizing the intrusiveness of diabetes treatments align with patient needs and regulatory support, further driving the market's growth trajectory over the forecast period.
North America Insulin Syringe Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Insulin Syringe
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2.2 Geography
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2.2.1 United States
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2.2.2 Canada
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2.2.3 Rest of North America
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North America Insulin Syringe Market Size FAQs
How big is the North America Insulin Syringe Market?
The North America Insulin Syringe Market size is expected to reach USD 255.03 million in 2024 and grow at a CAGR of 1.7% to reach USD 277.47 million by 2029.
What is the current North America Insulin Syringe Market size?
In 2024, the North America Insulin Syringe Market size is expected to reach USD 255.03 million.
